With all of the BS petitions revolving around the HDTV arena this is the SOLE issue that deserves attention IMO. The issues surrounding IP rights are well documented in numerous copyright laws. Yet when the conflict between rights holders and customers fair use arrises the "fair use" side is supported only by a decades old supreme court ruling regarding VCRs for goodness sake.
WE NEED legislation that clearly specifies what rights we have in general terms that can be applied to new technologies as they are developed. No one, certainly not the politicians, can anticipate where specific technologies will take us.
Some have worried that only the downrezzing of 1080 signals are at stake. But IMO even free OTA signals are in dire jeopardy. Just look at the VCR and DVD collections now being offered of various shows like the Sopranos, FX etc. The studios are just starting to realize how much these old shows can be worth.